Interesting precedent here; more claw backs coming for other car dealers worldwide? See: BMW to pay $57 million for irresponsible lending in Australia:
“Australia’s corporate regulator said on Tuesday that German carmaker BMW (BMWG.DE) has to pay A$77 million ($57 million) to compensate customers who received loans they could not afford, in what is Australia’s largest ever consumer credit remediation program…”BMW Finance had a sales-driven culture that failed to comply with the requirements of the credit laws and resulted in poor outcomes for many consumers,” ASIC Deputy Chairman Peter Kell said in the statement.
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